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Chargebacks, Returns, Refunds
Chargebacks, Returns, Refunds
Who did it come from, why and remedies?
Allan Ratafia avatar
Written by Allan Ratafia
Updated over a week ago

Who did it come from?
Just log into your BizPayO dashboard and head over to both the "Transactions" tab and the "Deposits and Syncing" tab.  These will give you the details you need.  

Why did it happen and what should I do?
Take it from me, this is very frustrating! But it's part of the electronic payments world.  It can happen from new customers or long-standing ones. It's most common with ACH/eCheck transactions, less so with credit card.  

Unlike credit cards, when ACH is submitted only the bank routing number can be verified at inception, not the account number. This is due to our somewhat antiquated banking system, vs credit cards which are authorized immediately.

For ACH, if the account name or bank number is incorrectly entered, or your customer's account balance is too low, this will be discovered later in the process, triggering the money to be pulled back from your account, since it was already funded earlier.  This is what is typically happens:

Lets assume a $100 ACH payment was (1) made to you today, (2) funded to your account a few days later, then (3) pulled back out a few days after that.

Its' important to note that this $100 is funded to your account BEFORE the ACH payment has fully cleared the banking system, in step #3 above. If it bounces later it is pull back out.  The alternative is to wait longer for everything to fully clear the banking system before funding your account, but the tradeoff is you would need wait longer for your money - we want to avoid that.

ACH/eCheck Returns:
 Most common reasons, even for long-standing customers:
-The bank account number was entered wrong
-The name on the account is wrong
-The specified bank account is closed
-Insufficient balance in the customer account

Remedy: Please follow up with your customer and let them know that the payment information was incorrect and that it will need to be reprocessed.

Credit Card Chargebacks:
This typically happens when your customer disputes their charge payment to you.  It could be for any reason, legitimate or not.  It's recommended that you always have strong supporting evidence of your work in case you are asked to provide this to defend such a dispute.

If you have any questions about monies funding to your account, please contact ZiftPay at [email protected].  Zift handles all the money matters and funding thereof.  I wish BizPayO could handle it on your behalf. BizPayO is the technology that interfaces with Ziftpay to provide you with the features and tools to run your cash-flows.

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